Bhutanese and Singaporean corporations to jointly develop and promote Thimphu TechPark, Bhutan’s first IT-focused project supported by the Royal Government of Bhutan and the World Bank Group
Thimphu, September 4, 2009: The Department of Information Technology, Royal Government of Bhutan has announced the project launch of Thimphu TechPark, the country’s flagship IT Park. The Park will be developed over the period of the next two years in partnership with Assetz Property Group, a leading property development and development management consulting firm headquartered in Singapore with operations in India and Australia. The project, situated in Babesa, Thimphu, is spread over five acres of land and, when eventually complete will have the capacity to offer over 250,000 square feet of Grade A infrastructure customized to suit the requirements of IT corporations. The first phase, to be operational by September 2011, will comprise 50,000 square feet of IT focused office and data centre spaces.
Thimphu TechPark will be designed, built, financed and operated by a joint venture comprising Druk Holding & Investments and Assetz Property Group of Singapore. The project is supported by the World Bank and the Royal Government of Bhutan; will act as a high profile, anchor scheme by the Royal Government; and is perceived to be an integral part of the overall IT strategy for the country.
Bhutan, as a nation, has been consistently committed to the creation of a sustainable economy harmonious with the country’s environmental and cultural richness. This approach forms the cornerstone of Bhutan’s development process built around the principles of preservation of national culture and identity, the well-being of the Bhutanese people and environmentally sustainable developments. The Thimphu TechPark has been designed to address all of these objectives and, therefore, to weave in effortlessly into Bhutanese culture. This will be achieved through the definition of strategic approaches, policies and procedures for development and operation of the project. In addition, leading consultants drawn from across Asia & Europe will advise on diverse aspects of project development such as Environment, Health & Safety. Contractors for the various trades have been also been identified considering expertise and proven track records on these parameters.
Further, Assetz as a key partner in the development of this project has the relevant experience of having built and operated prestigious estates (such as the Vrindavan TechVillage, Bangalore) which are based on strong environmental basics, are LEED certified, and designed keeping local market sensitivities in mind. Assetz offers expertise across the development lifecycle; and will provide strategic direction to the Thimpu TechPark on design management, finance structuring, procurement, branding & project marketing and other key areas.
ADDITIONAL INFORMATION
PROJECT PARTNERS
DRUK HOLDING & INVESTMENTS
www.dhi.bt
Formed pursuant to a Royal Charter dated November 11, 2007, and the Executive Order of the Prime Minister of the Government of Bhutan, Druk Holding and Investments Limited (DHI) has assumed charge of spearheading the development of Bhutan’s economy.
DHI accomplishes its objective through a multi-pronged strategy encompassing holding shares in commerce-focused government linked companies, raising funds and leading investment initiatives, and developing the private sector in the Kingdom of Bhutan either through its own resources or through joint ventures.
ASSETZ PROPERTY GROUP
www.assetzproperty.com
Assetz is a property development service company with a focus on complex, mixed use, investment grade projects. Assetz brings a structured approach to developing and delivering real estate projects from land identification and inception design, construction, financing, marketing, final occupation and ongoing asset management.
Formed by a group of senior industry professionals, Assetz business leaders have delivered many significant real estate developments over the past decade. Today Assetz is managing the development of a number of the most promising projects in the South Asia region across a variety of sectors.
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